9911 Belward Campus Dr Gaithersburg, MD 20879
Entity Owned
11-yr Hold
~
Est. High Equity
Estimated value (blended)
$85.72M
Range $77.15M – $94.29M (±10%)
Property ID
US40-1222797
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2005
Total area
290,912 SF
Lot
9.55 ac (415,929 SF)
Zoning code
LSC1.
APN
09-03411570
UPID
US40-1222797
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$58.35M
Comparable Approach
Comparable
$108.59M
Blend (final)
Blend
$85.72M
Owner & transaction history
since 2014
4 recorded transactions
Zoning & alternative use
LSC1. · Gaithersburg, MD
Top alternative use upside
Industrial (general)
$138.6M
+90.5%
Warehouse, storage
$91.1M
+25.1%
Commercial (general)
$76.6M
+5.3%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 5 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$85.72M
Value range
$77.15M – $94.29M
±10% around blend
Estimated value / SF
$295 / SF
Confidence
High
5 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
50
$77.15M
blend $85.72M
$94.29M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
290,912 SF
Lot area
9.55 ac
Year built
2005
Stories
3
APN
09-03411570
Assessed value
$176,700,000
Annual tax
$1,873,541
3
Income approach: direct capitalization
Partial preview
Income approach indication
$58.35M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$63.21M
@ 6.5% CAP return
$58.35M
@ 7% CAP return
$54.18M
4
Sales comparison
Partial preview
Sales approach indication
$19.28M
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
14.9 mi away · 239,241 SF
14.9 mi away · 239,241 SF
15.8 mi away · 373,666 SF
16.2 mi away · 287,628 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$85.72M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 60 sales
$250
+18%
County 255 sales
$317
-7%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $295/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Industrial (general)
Gross theoretical uplift
+90%
vs current-use indication
Warehouse, Storage
Commercial (general)
Office Building · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$176.70M
Move the market yield to see immediate price impact.
Value / SF
$607
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$11.13M
$222.64M
$159.03M
$123.69M
$12.37M
$247.38M
$176.70M
$137.43M
$13.61M
$272.12M
$194.37M
$151.18M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$15.25M
13.0 mi · Dec 2025 · $45/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$1,873,541
Tax year 2022
Assessed value
$176,700,000
Assessed 2023
Previous assessed
$166,205,433
+6.3% YoY
Effective rate
1.06%
On assessed value
Assessed land
$4,421,300
Assessed improvement
$172,278,700
Land market value
$4,421,300
Improvement market value
$172,278,700
Total market value
$176,700,000
Applied tax rate
53.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2005
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
3
Units
1
Total area
290,912 SF
Lot
9.55 ac (415,929 SF)
Zoning code
LSC1.
APN
09-03411570
UPID
US40-1222797
Jurisdiction
MONTGOMERY
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
LSC1. · Gaithersburg, MDZoning LSC1. · permitted uses
LSC1. · Gaithersburg, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Heating
HOT WATER
Cooling
Yes
Stories
3
Units
1
Lot
9.55 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
LSC1.
Jurisdiction
Gaithersburg, MD
Recorded code
LSC1.
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for LSC1. in Gaithersburg, MD.
What opens after registration
Zoning profile
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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